Wall Street

Chipmakers drag European equities lower ahead of inflation data

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Reuters UK

(Reuters) – European shares fell on Friday, with semiconductor stocks leading the slide following tepid outlook from U.S. memory-chip firm Micron Technology, while investors awaited euro zone inflation data for clues on the pace of interest rate hikes. Dutch semiconductor equipment maker ASML, Franco-Italian chipmaker STMicroelectronics and German chipmaker Infineon fell between 3.1% and 4.1% after Micron gave a significantly weaker-than-expected business outlook. The continent-wide STOXX 600 index was down 0.8% by 0709 GMT, a day after marking its worst quarter since the pandemic-led selling …

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